Healthcare Services Group, Inc. (NASDAQ:HCSG) announced a quarterly dividend on Tuesday, October 16th, RTT News reports. Shareholders of record on Friday, November 23rd will be given a dividend of 0.195 per share by the business services provider on Friday, December 28th. This represents a $0.78 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, November 21st. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19.
Healthcare Services Group has raised its dividend by an average of 2.8% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Healthcare Services Group has a payout ratio of 52.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Healthcare Services Group to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 46.7%.
HCSG stock opened at $43.21 on Friday. Healthcare Services Group has a 12-month low of $35.04 and a 12-month high of $56.20. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 43.61 and a beta of 0.71.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, October 16th. The business services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $506.90 million for the quarter, compared to the consensus estimate of $510.27 million. Healthcare Services Group had a net margin of 3.59% and a return on equity of 17.80%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. As a group, equities analysts expect that Healthcare Services Group will post 1.44 earnings per share for the current year.
In other Healthcare Services Group news, Director Robert J. Moss sold 3,001 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $41.64, for a total value of $124,961.64. Following the sale, the director now directly owns 3,001 shares in the company, valued at approximately $124,961.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert J. Moss sold 5,001 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $43.95, for a total transaction of $219,793.95. Following the completion of the sale, the director now owns 5,001 shares in the company, valued at $219,793.95. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
HCSG has been the topic of a number of recent research reports. Jefferies Financial Group set a $53.00 price target on shares of Healthcare Services Group and gave the company a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. BidaskClub upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Saturday, September 15th. ValuEngine upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Finally, Berenberg Bank initiated coverage on shares of Healthcare Services Group in a report on Thursday, October 4th. They set a “hold” rating and a $40.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.00.
Healthcare Services Group Company Profile
Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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